There has been a decline in the prices of gold and silver today i.e. on 27th March. According to India Bullion and Jewelers Association (IBJA), 10 grams of gold has become cheaper by Rs 296 to Rs 66,420. Earlier this month, on March 21, gold had made an all-time high of Rs 66,968 per 10 grams. A decline has also been seen in silver today. It has become cheaper by Rs 478 to Rs 73,801 per kg. Earlier it was at Rs 74,210. Silver had made an all-time high of Rs 77,073 last year i.e. on December 4 in 2023. Gold had become costlier by more than 8 thousand rupees in 2023. At the beginning of the year 2023, gold was at Rs 54,867 per gram, which reached Rs 63,246 per gram on 31 December. That means in the year 2023, its price increased by Rs 8,379 (16%). At the same time, silver also increased from Rs 68,092 to Rs 73,395 per kg. Gold can go up to Rs 70 thousand. According to market experts, the rise in gold prices may continue in the coming days. Due to this, by the end of this year, gold can go up to Rs 70 thousand per 10 grams. At the same time, silver can also reach Rs 75 thousand per kg. Keep these 4 things in mind while buying gold. 1. Buy only certified gold. Always buy certified gold bearing the hallmark of Bureau of Indian Standards (BIS). Under the new rule, gold will not be sold without six-digit alphanumeric hallmarking from April 1. Just as there is a 12 digit code on the Aadhaar card, similarly gold will have a 6 digit hallmark code. This is called Hallmark Unique Identification Number i.e. HUID. This number can be alphanumeric i.e. something like this – AZ4524. Through hallmarking, it has become possible to find out how many carats of gold is. 2. Cross check the price Cross check the correct weight of gold and its price on the day of purchase from multiple sources (like the website of India Bullion and Jewelers Association). The price of gold varies according to 24 carat, 22 carat and 18 carat. 24 carat gold is considered to be the purest gold, but jewelery is not made from it because it is very soft. Generally 22 carat or less gold is used for jewellery. Check the price according to carat like this: Suppose the price of 24 carat gold is Rs 60 thousand per 10 grams. That means the price of one gram of gold was Rs 6000. In such a situation, the price of 1 gram gold of 1 carat purity was 6000/24 i.e. 250 rupees. Now suppose your jewelery is made of 18 carat pure gold, then its price is 18×250 i.e. Rs 4,500 per gram. Now the exact price of gold can be calculated by multiplying the number of grams of your jewelery by Rs 4,500. 3. Do not pay in cash, take bill. Paying in cash while buying gold can prove to be a big mistake. It is good to make payment through UPI (like BHIM app) and digital banking. If you want, you can also make payment through debit or credit card. After this don’t forget to take the bill. If you have ordered online then definitely check the packaging. 4. Know the reselling policy: Many people see gold as an investment. In such a situation, it is important that you have complete information about the resale value of gold. Also, discuss with the store employees about the buyback policy of the concerned jeweler.
